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The Royersford Insurance Agent

Pools and Homeowners Insurance. What you need to know.

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Congratulations to you on your decision to get a pool.  You are going to have a blast!  Before you get too crazy, there are a few things you need to consider regarding your insurance policies.

 

Dog and boy swimming in a pool. Make sure you are covered by liability insurance. Chris Richmond via Compfight

 

Homeowners Policy

Other Structures (Coverage B)

Your Homeowners policy comes with automatic coverage for Other Structures.  This can be rather annoying if you live in a townhouse, like me.  We have NO other structures! Why do they automatically give us this coverage!!

Relax, the coverage is included.  Meaning you could reduce the coverage to zero and your rate would not decrease.  Usually the Other Structures coverage is adequate for what you have.  Most of us don’t have a $50,000 barn on our property.

Sometimes though, we do have a detached garage, a deck and a pool.  If this is the case for you then you absolutely need to let your agent know that you are adding on a pool.  In fact, a good rule of thumb is to let your agent know anytime you are adding anything onto the house, detached or not.

So if the pool you are building is costing you $20,000, make sure you make your agent aware so that your policy limits for Other Structures can be increased if need be.

 

What does your pool need?

The pool itself will require a few things in order for the insurance company to stay off your back.  Most insurance companies will require a fence around the pool.  This is a good idea anyway as you don’t want stray animals or neighborhood children wandering into the pool.

Another thing most insurance companies will require is a locked gate leading into the pool.  This can just be a Master Lock.  Anything that shows you need a combination in order to get through the gate on the fence that surrounds your pool.

 

Umbrella Policy

This is the big one.  Everything mentioned in this article is important but this is absolutely essential.  Pools put you at risk.  Kids running around on wet ground tend to slip and fall, adults enjoying themselves a bit too much could get hurt, and God forbid the worst case scenarios which you can imagine but I won’t mention.  I’m not trying to instill fear in you, but you need to be aware of some of the possible risks that are associated with adding a pool to your property.

Umbrella policies cost anywhere between $200 and $500.  Sometimes a little more, sometimes a little less.  There are many factors that go into the cost.  They provide an additional $1 Million of liability coverage.  They protect you if an injury occurs to someone at your house and you are found to be responsible.

At our agency, we believe if you own a house you should have a $1 Million Dollar Umbrella policy.  If you have a pool at your house, you should consider a $2 Million policy.

Have a great time with your new pool.  Be safe but more importantly, be covered!

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My name is Keith Laskey. My goal is to educate the everyday consumer and to help them make intelligent decisions with their insurance policies. Please contact me at my office, 610-948-4830 or Email Me for any insurance related questions or concerns. You can also visit the Ron Black Agency website or like us on Facebook! Thank you for stopping by, have a great day!

 

 

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